Nykaa reaps bonanza with Pink Friday

26 November 2022, Mumbai:

Beauty and fashion e-commerce firm Nykaa recorded a 75 per cent growth in gross merchandise value and a 12-fold jump in revenue on Day 1 of its Pink Friday sale. The sale is on from November 21 to November 28, 2022.

Some 400 orders were recorded a minute on the first day of the sale. A slew of unmissable brand offers led to Nykaa clocking a growth of 34 per cent in unique visitors from 4.3 million on last year's Day 1 to 5.8 million this year. Among categories that did well compared to regular days, purchases of make-up, skincare and haircare rose dramatically by 14 times, 12 times and nine times respectively.

Some 57 per cent of the purchases were made by shoppers from Tier II and Tier III cities. Besides metros, the highest orders came from Lucknow, Chandigarh, Ghaziabad, Jaipur, Guwahati and Jammu.

Nykaa’s next big focus is to hit profitability. The omnichannel beauty retailer has gained on the back of the festive and wedding season, so has not seen any drop in demand. Nykaa is an on-trend brand and dominates beauty with 30 per cent plus of the online beauty market. Nykaa has launched private labels, closed multiple acquisitions post the IPO.

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